DUBAI, United Arab Emirates — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is rolling out a new perk to attract users to its payment card: a 100% cashback offer on Netflix transactions. The promotion, targeting entertainment-hungry crypto enthusiasts, comes as digital asset platforms vie for market share in a resurgent $2.5 trillion crypto economy.
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3
From February 25 to March 10, new Bybit Card holders who spend at least $100—excluding Netflix subscriptions—can claim up to $10 back on their next streaming bill. The catch? Only the first 500 eligible users each day qualify, a move that underscores the exchange’s bid to drive rapid adoption. The offer dovetails with Bybit’s existing 10% cashback program, sweetening the deal for early movers.
The promotion taps into Netflix Inc.’s sprawling 300 million subscriber base, a milestone the streaming giant crossed in January, according to company data. With crypto markets rebounding—Bitcoin has climbed 15% year-to-date, per Bloomberg data—Bybit is betting that tying digital wallets to everyday spending will resonate with its 60 million-strong user base.
“We’re adding value for users who unwind with Netflix after trading,” Joan Han, Bybit’s sales and marketing director, said in a statement. “It’s a thank-you to new cardholders and a way to make their daily habits more rewarding.”
Founded in 2018, Bybit has carved out a hefty slice of the crypto trading pie, trailing only Binance in volume, according to CoinMarketCap. The Dubai-based exchange has leaned into Web3 innovations and decentralized finance tools to differentiate itself, but the Netflix tie-in signals a broader push into mainstream consumer perks. The campaign, which Bybit stressed is unaffiliated with Netflix, mirrors tactics used by traditional fintechs like Revolut, which have long paired cashback with lifestyle brands to boost card uptake.
Still, the $100 spending threshold and daily cap could limit the offer’s reach. Crypto exchanges have faced headwinds in scaling payment cards amid regulatory scrutiny and volatile markets, though Bybit’s 60 million users provide a robust testing ground. The firm didn’t disclose projected sign-ups but pointed to its website for details.
The move comes as competition heats up in the crypto payments space. Rival Binance has its own card, while Coinbase Global Inc. has expanded debit offerings in the US. With trading volumes surging—Bybit logged $5 billion in daily turnover this month, per internal figures—the race is on to lock in users beyond the volatility of spot markets.
For now, Bybit’s Netflix gambit is a small but flashy step. Whether it translates into lasting card adoption remains to be seen.
Contact: media@bybit.com
